http://blog.sfgate.com/giants/2012/04/02/sources-cain-close-to-5-year-110-million-deal/As we reported, this is a five-year, $112.5 million extension with club option for 2018 that vests automatically for $21 million if Cain hits an innings target in 2017. I’m told it’s an easy number to hit if he is a healthy full-time starter. Cain also gets a full no-trade clause for the life of the deal
Quite technically, Cain is actually signing a six-year contract with a seventh-year option because his $15 million deal for this year was ripped up and included in the new deal so the no-trade rights could be inserted for 2012. The money for this year does not change.
As we’ve said, the $22.5 million average annual value is the highest for a right-handed pitcher on a multiyear deal. Interestingly, he broke the record of $20.25 million just set by Tim Lincecum for his 2012-13 deal.